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U.S. money stock expanded dramatically in several wars, George Selgin notes

U.S. money stock expanded dramatically in several wars, George Selgin notes
U.S. money supply growth history

George Selgin references historical data from 1877 to 1899, pointing out limited data availability before that period. However, he emphasizes that no one disputes the substantial increase in the U.S. money stock throughout most of the earlier century, particularly during the American Revolution, War of 1812, and Civil War.

Selgin's remarks highlight the long-term growth in the U.S. money supply, with key surges during major conflicts.

Selgin has previously flagged risks in Federal Reserve quantitative easing, warning of potential backdoor funding that bypasses U.S. appropriations. He has also criticized the Fed’s ability to provide a stable, elastic currency, describing Canadian system reforms as a superior alternative. These prior comments frame his latest focus on historic increases in the U.S. money stock.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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